Diadema Partners LP Acquires Shares of 25,900 Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Diadema Partners LP bought a new stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 25,900 shares of the company's stock, valued at approximately $1,324,000.

Other hedge funds have also bought and sold shares of the company. Hsbc Holdings PLC raised its stake in Crinetics Pharmaceuticals by 61.7% during the 4th quarter. Hsbc Holdings PLC now owns 12,552 shares of the company's stock worth $645,000 after acquiring an additional 4,788 shares during the period. Rock Springs Capital Management LP lifted its stake in shares of Crinetics Pharmaceuticals by 1.6% during the 4th quarter. Rock Springs Capital Management LP now owns 294,100 shares of the company's stock valued at $15,037,000 after buying an additional 4,700 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Crinetics Pharmaceuticals by 1,539.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,412 shares of the company's stock worth $379,000 after buying an additional 6,960 shares during the period. MetLife Investment Management LLC increased its stake in Crinetics Pharmaceuticals by 18.0% in the 4th quarter. MetLife Investment Management LLC now owns 53,020 shares of the company's stock worth $2,711,000 after buying an additional 8,085 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Crinetics Pharmaceuticals by 10.8% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 19,219 shares of the company's stock valued at $981,000 after acquiring an additional 1,880 shares during the period. Institutional investors own 98.51% of the company's stock.

Crinetics Pharmaceuticals Trading Down 3.0 %

Shares of NASDAQ CRNX traded down $1.00 during mid-day trading on Friday, reaching $32.39. The company had a trading volume of 835,521 shares, compared to its average volume of 861,542. Crinetics Pharmaceuticals, Inc. has a 52 week low of $24.10 and a 52 week high of $62.53. The business's 50-day moving average is $32.39 and its 200-day moving average is $44.13. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of -8.68 and a beta of 0.37.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, beating analysts' consensus estimates of ($0.92) by $0.04. As a group, equities research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

Insider Transactions at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, CEO Richard Scott Struthers sold 17,338 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $592,959.60. Following the completion of the sale, the chief executive officer now directly owns 329,147 shares in the company, valued at approximately $11,256,827.40. This trade represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dana Pizzuti sold 5,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $39.07, for a total transaction of $195,350.00. Following the sale, the insider now directly owns 31,748 shares in the company, valued at approximately $1,240,394.36. This represents a 13.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 32,015 shares of company stock valued at $1,119,263. Corporate insiders own 6.00% of the company's stock.

Analyst Ratings Changes

CRNX has been the topic of several recent analyst reports. HC Wainwright reissued a "buy" rating and set a $81.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. Jefferies Financial Group upgraded shares of Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 price target on the stock in a research note on Wednesday, January 22nd. Stifel Nicolaus initiated coverage on Crinetics Pharmaceuticals in a research report on Tuesday, March 25th. They set a "buy" rating and a $60.00 price objective for the company. TD Cowen started coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating on the stock. Finally, Wolfe Research assumed coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They set a "peer perform" rating for the company. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $73.00.

Crinetics Pharmaceuticals Company Profile

Crinetics Pharmaceuticals, Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. The company's lead product candidate is paltusotine, an oral selective nonpeptide somatostatin receptor type 2 agonist, which is in Phase 3 trial for the treatment of acromegaly; and Phase 2 trial for treating carcinoid syndrome associated with neuroendocrine tumors.